Section 21

If a person licensed to manufacture, possess, use, sell, store, transport, import or export explosives dies or becomes insolvent or bankrupt or mentally disordered or otherwise under disability, the person carrying on the business of the licensee shall not be liable to any penalty or forfeiture for acting under the licence during such reasonable time as may be necessary to allow him to make application for a new licence, and that person shall be deemed to be the holder of the licence for all purposes under this Act and to be liable in the same way as if he were the original holder thereof until a new licence is granted or refused.